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| TGE > SEC Filings for TGE > Form 8-K on 22-Oct-2008 | All Recent SEC Filings |
22-Oct-2008
Entry into a Material Definitive Agreement, Termination of a Material Definiti
Indemnification Agreements
On October 20, 2008, TGC Industries, Inc. ("TGC" or the "Company") entered into indemnification agreements (the "Indemnification Agreements") with all of its directors: William J. Barrett, Edward L. Flynn, Herbert M. Gardner, Allen T. McInnes, Stephanie P. Hurtt, and Wayne A. Whitener; and also with the Company's Vice Presidents, Daniel G. Winn and James K. Brata. Under each Indemnification Agreement, in exchange for service to the Company and its affiliates by each director and officer, the Company has agreed to indemnify each director and officer who is involved in any threatened, pending, or completed investigation, claim, action, suit, or proceeding, whether civil, criminal, administrative, or investigative, initiated against the director or officer as a result of his or her service to the Company against all expenses (including attorneys' fees), judgments, fines, and amounts paid in settlement actually and reasonably incurred by such person in connection with the action. Messrs. Barrett, Flynn, Gardner, McInnes, Winn, and Whitener all had previous indemnification agreements dated August 26, 2005, that have been replaced by these new Indemnification Agreements. Ms. Hurtt had a previous indemnification agreement dated May 14, 2008, that has been replaced by a new Indemnification Agreement. A form of the Indemnification Agreement is being furnished as Exhibit 10.1 to this Current Report on Form 8-K.
Indemnification Agreements
See Item 1.01 "Entry into a Material Definitive Agreement - Indemnification Agreements" regarding the fact that Messrs. Barrett, Flynn, Gardner, McInnes, Winn, and Whitener had indemnification agreements dated August 26, 2005, and that Ms. Hurtt had an indemnification agreement dated May 14, 2008, all of which were replaced on October 20, 2008, by a new Indemnification Agreement for each of Messrs. Barrett, Flynn, Gardner, McInnes, Winn, and Whitener, and Ms. Hurtt.
(d) Exhibits.
10.1 Form of TGC Industries, Inc. Director and Officer Indemnification Agreement.
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